| Divorce is a financial killer; often for both parties. In | | | | of paying her alimony. Offer her a lump sum. Suing |
| particular, men often take the brunt of the financial | | | | her for alimony may throw her or her attorney off. |
| hits. Often the main bread winner, men are saddled | | | | Alimony is financial slavery. Often, even filing |
| with the financial burden of two households on his | | | | bankruptcy can't get you out of paying alimony. To |
| same one salary. He barely gets by. | | | | learn more about alimony reform click here. |
| According to the article, Top 5 Reasons Why People | | | | Don't pay your attorney - you are going to lose almost |
| Go Bankrupt, by Mark P Cussen posted on Yahoo | | | | everything. Have your attorney stand in the |
| Finance, March 22, 2010, the fourth reason people file | | | | outstretched grabbing hand line. For the most part, |
| for bankruptcy is divorce or separation. Cussen | | | | they still need to represent you, even if you don't |
| writes: " Marital dissolutions create tremendous | | | | pay. If they baulk, then get free or low cost legal |
| financial strain on both partners in several ways. First | | | | help. There are lots of books that can help you |
| come the legal fees, which can be astronomical in | | | | prepare your case. A recommended resource is |
| some cases, followed by a division of marital assets, | | | | Insider Secrets and Strategies That Men Must Know |
| decree of child support and/or alimony, and finally the | | | | to Win Their Divorce. Or if you are daring, do it on |
| ongoing cost of keeping up two separate households | | | | your own...Pro Se. You know that your attorney will |
| after the split. The legal costs alone are enough to | | | | find something you own and file a lien against it. |
| force some to file, while wage garnishments to cover | | | | Don't pay her attorney – in the final settlement, the |
| back child support or alimony can strip others of the | | | | opposing council (OC) will add what he or she should |
| ability to pay the rest of their bills. Spouses who fail to | | | | get paid by you. Yes, you will be demanded to pay |
| pay the support dictated in the agreement often leave | | | | her fees. Either don't agree and take a chance of |
| the other completely destitute." | | | | the divorce going to court, where the judge will order |
| So, how do you stay out of financial trouble and avoid | | | | you to pay OC. Or take your licks and pay some by |
| some of the pitfalls of divorce or separation. The | | | | negotiating the fee in half. Beats what the judge may |
| suggestions below will make you think divorce before | | | | order. |
| marriage. | | | | Get the IRS to pay for child support – if you get |
| Don't get married – this is an obvious suggestion to | | | | your child support payments changed to maintenance, |
| avoid divorce debt. Yes, the only way to get divorce | | | | you could save 30% by paying the support with |
| debt is from a marriage. You need to understand | | | | pre-tax dollars. Check with a qualified attorney and |
| that marriage is a LEGAL contract. Marriage is legal; | | | | certified accountant to get full advice on this saver. |
| love is not legal. You can have a commitment with a | | | | Get an ironclad prenuptial agreement – it makes |
| woman without the law getting in the way. There is | | | | sense to have a legal document that protects you |
| however, a 50% chance that you will get lucky and | | | | from a legal document that could give you a world of |
| stay married 60 years, when your hair is gone, you | | | | hurt for many years if broken by either party. Don't |
| suffer ED and you grin and bear it until it hurts. Or, | | | | take a chance by having your credit destroyed, your |
| you can find a like minded woman who hasn't bought | | | | assets ripped apart and your future paying for the |
| into the legal commitment idea, who loves you and is | | | | past. You are also protecting her. What is yours is |
| committed in spirit and body as you are to her. | | | | yours; what is hers is hers; and what is gained by both |
| Don't get divorced – hopefully, if you are married, | | | | needs to be worked out and documented in a |
| you are one of the lucky ones who made the right | | | | prenuptial agreement. For more information on why |
| choices and will stay ‘til death do you part. | | | | you need a prenuptial agreement, read How to Avoid |
| Unfortunately, you may be one of those who are too | | | | "Getting Screwed" When Getting Laid. |
| afraid to leave her because you know that you will get | | | | Don't offer to pay for anything that you are not |
| screwed if you do. So you stay in the marriage and | | | | ordered to pay – this may sound cold, but you are |
| pray for the day that you will be taken out of your | | | | now taking care of two households on the same |
| personal misery. Keep in mind, the majority of the | | | | salary that you did before. So, in order to do this, you |
| divorces are initiated by women, so you may not have | | | | already have to dip into that saving or investment. |
| a choice. | | | | You'll probably need to get credit cards in your |
| Don't co-mingle credit – if you have joint credit | | | | name…bad idea. You will get trapped; especially |
| cards or own a house together or own anything | | | | now with how the banks and credit card companies |
| together you will be in a rude awakening when you | | | | are ripping off the consumers. You may have to tap |
| duke it out during divorce. You are on the hook for | | | | your retirement account. Fees and taxes will kill you. |
| the joint card that was paid off every month while you | | | | So, stay out of personal debt if you can. You will be |
| were married, that suddenly becomes maxed out by | | | | forced to get another job or an additional job to stay |
| your ex during separation. Even if you try to remove | | | | above water. If you get another job, you will pay |
| yourself from the card or close it, you will have an | | | | more in taxes if you make more. The net result will |
| impossible time…especially if she is the primary on the | | | | be negligible. If you get an additional job, you will pay |
| card. She can get the limit increase without your | | | | more in taxes and will spend less time with your kids, if |
| permission. You know that house you are | | | | you have them. |
| paying?…it is upside down now or you are barely | | | | Get pre-divorce help from a financial adviser – get |
| breaking even. You are on the hook for that | | | | an expert to lay things out to you. One certainty; no |
| mortgage note. You know that she is not going to | | | | one can afford to get divorced. But, a financial |
| pay the mortgage while you are separated. Same | | | | adviser will tell you straight up how bad it will be when |
| for the car, or any other joint credit. Your credit will | | | | you venture into the thick black forest of divorce. |
| be out of control. Your credit rating will drop like your | | | | You may be better off taking the first suggestion |
| recent 401K balance has dropped. | | | | offered here - Don't Get Married. Keep in mind that |
| Don't pay alimony – alimony judgments in most | | | | what may seem grand now may cost you $30 grand |
| states are out of control. Figure out a way to get out | | | | or more down the road. Make wise choices. |